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Business
Meta is laying off 8,000 workers, about 10 per cent of its workforce, to enhance efficiency and focus on artificial intelligence investments. Concurrently, Microsoft is offering voluntary buyouts to approximately 8,750 employees, marking a significant shift for the company amid industry-wide cost adjustments.
Oil prices surged above $106 per barrel amid escalating US-Iran tensions in the Strait of Hormuz, following reciprocal vessel seizures. The increase represents a nearly 5% rise since late Wednesday, reflecting concerns over shipping disruptions in a key global energy transit route.
US liquefied natural gas exporters are poised to gain as markets plummet amid the Iran war: Markets are plummeting as the conflict escalates – but not every industry is affected.
Japan unexpectedly slips into a recession Japan has unexpectedly slipped into a recession as its…
The back page of London business paper CITY AM says Tui shareholders have voted to ditch the London Stock Exchange in favour of Germany, in the latest major blow to the embattled bourse.
Shareholders voted 98.35 per cent in favour of the decision at the travel giant’s annual general meeting, having required 75 per cent backing for the plans to go through.
The front page of the Financial Times reports Nato is set to announce that most of its members are on track to hit the alliance’s defence spending target as it prepares for more Russian aggression and braces for the potential election of Donald Trump.
Jeff Bezos, the multi-billionaire and founder of Amazon, has continued to divest his shares in the company, bringing the total value of recent sales to over $4 billion (£3.2 billion). The tech giant, established by Bezos in 1994, confirmed that he has sold 24 million Amazon shares this month alone. Serving as the firm’s executive chair, Bezos had last offloaded Amazon shares in 2021.
Reuters exclusively reported that Nvidia is building a new business unit focused on designing bespoke chips for cloud computing firms
The post Nvidia pursues $30 billion custom chip opportunity with new unit appeared first on Reuters News Agency.
Arm Holdings, a UK-based chip designer, has witnessed a staggering surge in its stock market valuation, nearly doubling in less than a week, driven by investor optimism surrounding the artificial intelligence (AI) sector.
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